Payoneer Global (NASDAQ:PAYO) Price Target Raised to $16.50

Payoneer Global (NASDAQ:PAYO) had its price objective lifted by Citigroup from $14.50 to $16.50 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

PAYO has been the topic of several other research reports. Benchmark boosted their target price on shares of Payoneer Global from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Northland Securities boosted their price objective on shares of Payoneer Global from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Payoneer Global in a research report on Monday, February 3rd. They issued a “buy” rating and a $13.00 target price on the stock. The Goldman Sachs Group lifted their price target on Payoneer Global from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods cut their price objective on Payoneer Global from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.07.

Payoneer Global Stock Down 6.4 %

Shares of NASDAQ:PAYO opened at $7.81 on Tuesday. The firm has a 50 day moving average of $10.11 and a 200 day moving average of $9.27. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 2.88 and a beta of 0.93. Payoneer Global has a 52 week low of $4.22 and a 52 week high of $11.29.

Payoneer Global (NASDAQ:PAYO) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Payoneer Global had a return on equity of 17.78% and a net margin of 13.82%. The firm had revenue of $261.74 million for the quarter, compared to the consensus estimate of $242.14 million. During the same quarter last year, the firm earned $0.05 EPS. On average, sell-side analysts expect that Payoneer Global will post 0.34 EPS for the current year.

Insider Transactions at Payoneer Global

In related news, insider Tsafi Goldman sold 263,873 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $10.10, for a total transaction of $2,665,117.30. Following the sale, the insider now directly owns 741,748 shares of the company’s stock, valued at approximately $7,491,654.80. This represents a 26.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Beatrice Ordonez sold 85,000 shares of Payoneer Global stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.40, for a total transaction of $884,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,305,245 shares of the company’s stock, valued at $23,974,548. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 445,223 shares of company stock worth $4,519,362 over the last quarter. 5.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Payoneer Global

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of Payoneer Global in the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC grew its stake in Payoneer Global by 405.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,819 shares of the company’s stock valued at $38,000 after acquiring an additional 3,064 shares during the period. Fifth Third Bancorp increased its holdings in Payoneer Global by 29.3% in the 4th quarter. Fifth Third Bancorp now owns 4,488 shares of the company’s stock worth $45,000 after acquiring an additional 1,016 shares in the last quarter. Blue Trust Inc. raised its position in Payoneer Global by 21.2% during the fourth quarter. Blue Trust Inc. now owns 5,380 shares of the company’s stock worth $54,000 after acquiring an additional 940 shares during the period. Finally, GAMMA Investing LLC raised its position in Payoneer Global by 41.7% during the fourth quarter. GAMMA Investing LLC now owns 8,241 shares of the company’s stock worth $83,000 after acquiring an additional 2,425 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

About Payoneer Global

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.